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What age did/will your parents retire and what age do you plan to?

55 replies

Snog · 29/03/2014 07:35

My dad retired at 64 and my mum at 50.
I would like to retire by 60 but 70 might be more likelyShock

OP posts:
spinnergeologist · 31/03/2014 00:31

I think my in-laws planned to retire around 55 to 60 (teacher and consultant) but their pension was in shares and now they have a fraction of what they thought they would get so they are carrying on for the foreseeable future. I think both my parents will finish full time work at 65 due to their job types and I know they intend to move.

Due to the job market my hubby hasn't had a stable enough job to ever get a pension (now pushing into our 30's). Mine is ok but due to financial pressure of being sole earner on and off I am paying in less than I would like. Unfortunately my industry tends to kick out after 65 due to the type of work unless you are very specialised so I can see myself going back to shelf stacking. Actually I think I would enjoy that as when I used to do it as student it was a nice break from studying so in the future it would be a nice wind down from a high pressure job. My hubby is in a very physical job so if he is not in management after about 50 he will have to find something else as well. I can see us both working until we die at least part time as there is no way we can afford to pay a mortgage etc and pay in lots to a pension. Esp as the current government seem determined to remove as much state pension as possible.

Spindelina · 01/04/2014 09:25

Mum was a SAHP; dad took a very nice early retirement package at 52 when his employer was making redundancies. I was 12 at the time, so had both parents at home throughout my teenage years. Can't see that happening now!

yourlittlesecret · 01/04/2014 16:18

Spindelina Yes it can. DH retired at 57 on a very good pension when DC were 11 and 9, he is 64 now. He has had all of their teenage years to taxi them about at home. Made up for the long hours he worked when they were little. You could only do this if you had children quite late though.
I work part time but plan to retire at 60.

My grandmother worked until 70.
Mother to 60 and father to 60.

Mandy21 · 04/04/2014 10:35

Dad took early retirement at 50 (having worked for the same company since he was 16 with a final salary pension scheme) but still did odd jobs - caretaker of the local village hall, gardener, postman in the holidays - he absolutely loved it. Mum retired when she was 58, also on a final salary scheme.

They worked incredibly hard, saved, lived pretty frugally when you look back (but never noticed as a child). Were never extravagant. They are in their late 60s early 70s now. Live abroad for a large chunk of the year. Have been massively hands on with their grandchildren. They have an increible social life, do voluntary work etc - don't know how they ever fitted work in.

They deserve it all - and I would love to be in their position in 20 years. Unfortunately, we'll be able to retire when we're 65 at the earliest!!

HPparent · 04/04/2014 10:42

My Mum retired at 60 and my stepfather at 63 - he was on temp contracts wanted to keep working and looked for another job but couldn't find one.

My health is quite bad at the moment, but I hope to keep going until 70. In fact I think I think I might well be working until I die, if my health holds up. I like my job but don't want to do it for another 20 years.

As a public servant of a certain age, I have a reserved right to go in a few years at 55 but no way can I afford to. I have a final salary pension but it is worth so little I won't be able to live off it.

My husband paid loads into his pension in order to be able to retire at 55 but it looks like he will be working til 70 as well.

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